Ciner Resources’ (CINR) Hold Rating Reaffirmed at DA Davidson
A number of other equities analysts have also commented on the company. Zacks Investment Research lowered Ciner Resources from a hold rating to a sell rating in a research note on Tuesday, August 9th. Citigroup Inc. lifted their price objective on Ciner Resources from $28.00 to $30.00 and gave the stock a neutral rating in a research note on Thursday, July 7th. Finally, FBR & Co reiterated a buy rating and issued a $35.00 price objective on shares of Ciner Resources in a research note on Monday, August 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. Ciner Resources has a consensus rating of Hold and a consensus target price of $30.25.
Ciner Resources (NYSE:CINR) traded down 0.89% during mid-day trading on Friday, reaching $31.06. The company had a trading volume of 3,201 shares. Ciner Resources has a 52-week low of $18.81 and a 52-week high of $39.10. The company’s 50 day moving average is $29.97 and its 200 day moving average is $29.02. The stock has a market capitalization of $622.82 million, a price-to-earnings ratio of 13.14 and a beta of 1.15.
Ciner Resources (NYSE:CINR) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by $0.04. The business earned $116.70 million during the quarter, compared to the consensus estimate of $117.27 million. Ciner Resources had a return on equity of 23.78% and a net margin of 13.04%. The company’s revenue was down 4.9% compared to the same quarter last year. Equities analysts predict that Ciner Resources will post $2.29 earnings per share for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Advisory Services Network LLC acquired a new position in shares of Ciner Resources during the second quarter valued at approximately $104,000. Acrospire Investment Management LLC increased its position in shares of Ciner Resources by 45.0% in the second quarter. Acrospire Investment Management LLC now owns 3,958 shares of the company’s stock valued at $111,000 after buying an additional 1,229 shares during the last quarter. KCG Holdings Inc. acquired a new position in shares of Ciner Resources during the second quarter valued at approximately $206,000. Allianz Asset Management AG acquired a new position in shares of Ciner Resources during the second quarter valued at approximately $228,000. Finally, Eqis Capital Management Inc. acquired a new position in shares of Ciner Resources during the third quarter valued at approximately $263,000. 19.95% of the stock is currently owned by institutional investors and hedge funds.
Ciner Resources Company Profile
Ciner Resources LP, formerly OCI Resources LP, owns a controlling interest consisting of 51% membership interest in Ciner Wyoming LLC (Ciner Wyoming). Ciner Wyoming produces soda ash and serves a global market from its facility in the Green River Basin of Wyoming. The Company processes trona ore into soda ash, a raw material in flat glass, container glass, detergents, chemicals, paper and other consumer and industrial products.
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